A recent article in the Asheville Citizens-Times discussed the plans for expanding the greenways throughout Black Mountain and talked about the inherent benefits of greenways, including recreation opportunities and attractiveness to new businesses. In addition, it's important to note the real estate advantages to having greenways throughout a community, and the Asheville area real estate sales may see a positive effect from the greenway system.
Greenways are trails of open space preserved for recreation and conservation. In many instances, the paths connect common areas and provide safe passage through communities with limited exposure to vehicular traffic. Greenways often offer protection for native plant life and can help in flood protection as well.
National studies indicate that greenways have a positive effect on real estate sales. In several studies, days on the market (dom) are reduced when the property is adjacent to a greenway. One particular study indicates that houses adjacent to the greenway sold in just over half the time properties further away from the pathways stayed on the market. In addition, home values increase on those cites adjacent to the pathways, and sales prices were significantly closer to asking price for those homes as well.
So while Asheville and Black Mountain residents can take advantage of safe, beautiful areas for recreation, the Asheville real estate market can also expect to see some benefits in terms of prices and fewer days on the market for homes in proximity to the greenways. For more information, please contact Greybeard Realty.